ARC Resources Ltd. (TSE:ARX) to Issue $0.17 Quarterly Dividend

ARC Resources Ltd. (TSE:ARX) declared a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.17 per share by the oil and gas exploration company on Tuesday, October 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 27th.

ARC Resources Stock Performance

Shares of ARX traded down C$0.42 during trading hours on Wednesday, reaching C$22.97. 107,795 shares of the company’s stock traded hands, compared to its average volume of 1,962,502. The firm has a market capitalization of C$13.70 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. The business’s fifty day simple moving average is C$24.02 and its two-hundred day simple moving average is C$24.43.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. The company had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. Analysts predict that ARC Resources will post 3.1763869 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARX. CIBC lifted their target price on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. UBS Group lowered their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Canaccord Genuity Group lifted their target price on ARC Resources from C$27.00 to C$29.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on ARC Resources from C$33.00 to C$34.00 in a report on Friday, July 12th. Finally, Desjardins lifted their target price on ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ARC Resources has an average rating of “Buy” and a consensus price target of C$30.46.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.